Citi Platinum Life of Balance Credit Card Review
 Fixed balance transfer rate until repaid in full
Fraud protection and travel services
Free Identity Theft Solutions
THE Citi Platinum Life of Balance credit card offers a fantastic low interest life of balance transfer deal, as well as other great perks such as free travel services and a range of fraud protection include the Citi identity theft solutions.
The Citi Platinum credit card provides a low fixed rate of just 5.8% per annum on balance transfers, and the rate will stay low for the length of time it takes you to pay back your balance transfers.
This credit card balance transfer deal is aimed at people who want to manage their repayments as easily as possible, without having to worry about ending promotional periods.
If you need more than the usual 15 months to repay a current credit card balance then the Citi Platinum Life of Balance credit card could be the ideal card for you.
| Interest Rates and Fees |
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Notes.. |
| Typical APR |
16.9% APR (variable) |
The typical APR is the rate most people are offered.
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| Balance Transfers |
5.8% for life of balance |
Payments are applied towards promotional balance transfers first.
Must be made within the first 90 days of account opening. |
| Balance Transfer Fee |
2.5%
(£5 minimum) |
2.5% (£5 min) for balance transfers made during the first 90 days of account opening. 3% (£5 min) on balance transfers made thereafter. |
| Cash Withdrawal Rate |
24.9% p.a. (variable) |
Up to 27.9% p.a. This is the rate you are charged on balances resulting from using a cash machine, getting cash back at the supermarket or buying foreign money. |
| Cash Withdrawal Fee |
3%
(£5 minimum) |
When you use your credit card to get cash you will be charged a 'handling fee' for doing so. |
| Annual Fee |
£0 |
-
|
| Foreign Transaction Fee |
2.75% |
This is fee you will be charged for credit card transactions made abroad.
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| Cardholder Services & Extras |
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|
Notes.. |
| Online Account Management |
Yes |
You can log in to the Citi Bank website and manage your Citi Platinum credit card account online. |
| Online Fraud Guarantee |
Yes |
Any charges to your card made online without your consent will be refunded. |
| Active Fraud Protection |
Yes |
If Citi see anything suspicious on your account, they will alert you to it. If it proves to be fraudulent, you will not be held liable for any purchases you haven't authorised. |
| Citi Identity Theft Solutions |
Yes |
A free service that will help restore your good name and good credit if you have your identity stolen. |
| Travel Accident Insurance |
Up to £100,000 |
When you use this card to buy travel tickets you will be covered against death or serious injury whilst abroad. |
| Emergency Travel Assistance |
Yes |
Free emergency medical and legal assistance, at any time whilst abroad. |
| Optional Extras |
Payment protection, Card protection |
These are extras that you can choose, but you will have to pay for them. |
| Payments & Payment Details |
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|
Notes.. |
| Credit Limit |
£1,500 assumed |
Credit limit may vary from person to person and is subject to status. |
| Interest Free Period |
Up to 56 days |
On card purchases only, if you pay your statement balance in full and on time every month. There is no interest free period on balance transfer, cash withdrawals, credit card cheques or Citi Flex Payments. |
| Minimum Monthly Payment |
2.25%
(£5 minimum) |
The minimum monthly payment is the smallest amount you must pay each month (unless your credit card balance is zero). |
| Allocation of Payments |
Interest, Charges, Promotional Balances, Purchases, Non-promotional Balance Transfers, Cash Withdrawals |
When you make a payment to this card, payments will be applied in this order. |
| Default Charges |
£12 |
This is how much you will be charged for late payments, returned payments and if you go over your credit limit. |
| Copy of Statement Fee |
£3 |
This is the fee you will be charged for duplicate statements. |
| Card Details |
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|
Notes.. |
| Online Application |
Yes |
- |
| Card Type |
Platinum |
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|
| Payment Company |
MasterCard |
This is the company who provides the payment technology and infrastructure to allow you to use this credit card. retailers and ATM machines displaying the 'MasterCard' logo will accept this card. |
| Card Issuer |
Citi |
This is the bank behind your credit card. |
| Card Advertiser |
Citi |
This is the company who advertises and promotes this credit card. |
Citi Platinum Life of Balance Credit Card User Reviews
What do you think? Add your review of the Citi Platinum Life of Balance credit card.
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At a Glance
Citi Platinum Life of Balance Credit Card
| Typical APR: |
16.9% APR |
 |
| Purchases: |
 15.8% p.a. |
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| Balance Transfers: |
 5.8% for life of balance |
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2.5% transfer fee - £5 min |
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| Interest Free Period: |
Up to 56 days |
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| Annual Fee: |
£0 |
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| This card includes: |
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 Online Account Management |
| Fraud Security |
| Travel Accident Insurance |
| Travel Assistance |
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| You should only apply if you are: |
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| • Aged 18 or over |
| • UK resident |
Review Continued
The Citi Platinum Life of Balance credit card, as with all Citi credit cards, offers an array of added benefits for its cardholders.
Perhaps the most attractive bonus is the array of fraud protection, including an online fraud guarantee, active fraud protection and Citi's own Identity Theft Solutions.
Citi also offers further travel bonuses, including up to £100,000 travel accident insurance and free 24-hour medical and legal assistance when you're abroad.
With Citi, cardholders can access their accounts quickly and easily. With online banking as standard, Citi also offers text or email alerts, giving you an update on your account, exactly when you need it.
Life of Balance Transfers
The Citi Platinum Life of Balance credit card - as the name suggests - offers a promotional low rate on balance transfers until they are repaid in full.
With no ending promotional period you can really spread the cost of paying back an outstanding credit card balance - and as long as you make at least the minimum payment each month, the promotional rate will stay low however long it takes you to clear the balance.
In order to qualify for the 5.8% life of balance deal, you have to make the balance transfers within 90 days of opening your account. Yet, this still gives you a good three months to make your balance transfers.
Balance transfers are also subject to a now market standard balance transfer handling fee. This fee will be 2.5% of the amount you transfer.
Security Features
Another appealing feature of the Citi Platinum Life of Balance credit card is its security features, helping to give you extra peace of mind.
Citi provides an online fraud guarantee, meaning there is no liability for any transaction made with your card online without your consent.
As well as the online guarantee against fraud, Citi also offer active fraud protection. This means Citi will keep a watchful eye over your account and notify you if they see any activity that could be fraudulent.
Both these fraud securities help to leave you safe in the knowledge that any charges made to your account without your consent will be investigated.
Citi's free identity theft service also helps to protect cardholders. If need be, Citi will set up a new Citi credit card for you, complete with sufficient credit. They help you to close any fraudulently opened accounts and helps resolve fraudulent charges on your account.
Helpfully, in the case of identity theft, Citi will provide you with a Citi Identity Theft Solutions Tool Kit with worksheets and information, to help protect you in the future.
To add to these security features, Citi has a 24-hour identity theft helpline and after the situation has been resolved, Citi will closely monitor your account and notify you of any changes.
Optional Cardholder Repayment Protection
For that extra peace of mind, it is well worth considering Citi's optional cardholder repayment protection deal. For 85p per £100 of your statement balance, Citi promises to help you repay your payments, should you need assistance due to involuntary unemployment or illness.
If, after 30 consecutive days, you cannot make payments due to illness or involuntary unemployment, Citi will take care of repayments for up to a year.
In the event of death, your entire balance (max. £20,000) will be cleared by Citi. It's definitely worth thinking about investing in the optional cardholder repayment protection scheme offered - for just a little each month you can rest assured that your payments will be taken care of in the case of any misfortune.
Final Word
If your salary is over £20,000, you are between the ages of 18 and 65 and are keen to get a low balance transfer rate, the Citi Platinum Life of Balance credit card could well be the card for you.
With a rate that stays low, you don't have to worry about switching to another balance transfer deal or paying back your debts within a certain period of time.
Citi also offers some very impressive bonuses for cardholders, and the free travel accident insurance, fraud protection and identity theft protection add to the card's great features.
If you're after a credit card that gives you peace of mind the Citi Platinum Life of Balance credit card is a great card to opt for.
Apply Online for Citi Platinum Life of Balance credit card 
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